PNC Financial Services Group Inc. Grows Stock Holdings in ONEOK, Inc. $OKE

PNC Financial Services Group Inc. grew its holdings in ONEOK, Inc. (NYSE:OKE) by 7.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 192,205 shares of the utilities provider’s stock after acquiring an additional 13,650 shares during the period. PNC Financial Services Group Inc.’s holdings in ONEOK were worth $17,373,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC boosted its position in shares of ONEOK by 137.1% in the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock worth $1,534,000 after buying an additional 8,834 shares during the period. Empowered Funds LLC grew its position in shares of ONEOK by 0.8% during the first quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock worth $1,782,000 after buying an additional 137 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in ONEOK in the first quarter valued at $216,000. Federated Hermes Inc. boosted its stake in ONEOK by 14.0% during the 2nd quarter. Federated Hermes Inc. now owns 3,120 shares of the utilities provider’s stock valued at $255,000 after acquiring an additional 383 shares during the last quarter. Finally, NewEdge Advisors LLC grew its holdings in ONEOK by 3.9% during the 2nd quarter. NewEdge Advisors LLC now owns 130,347 shares of the utilities provider’s stock worth $10,640,000 after acquiring an additional 4,902 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Freedom Capital raised shares of ONEOK from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 5th. Weiss Ratings raised ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Raymond James Financial reissued an “outperform” rating and set a $92.00 price target on shares of ONEOK in a research report on Thursday, April 30th. Morgan Stanley boosted their price objective on shares of ONEOK from $104.00 to $113.00 and gave the company an “overweight” rating in a research report on Tuesday, April 7th. Finally, Wells Fargo & Company dropped their price objective on shares of ONEOK from $100.00 to $98.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. Eight research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $92.44.

ONEOK Price Performance

Shares of NYSE:OKE opened at $93.13 on Friday. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $96.07. The firm has a market capitalization of $58.69 billion, a P/E ratio of 16.60, a PEG ratio of 5.02 and a beta of 0.73. The firm’s 50 day moving average is $89.48 and its two-hundred day moving average is $85.96. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.37.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.07). ONEOK had a net margin of 10.03% and a return on equity of 16.06%. The business had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $8.23 billion. During the same period in the previous year, the firm earned $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. Analysts anticipate that ONEOK, Inc. will post 5.68 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Monday, August 3rd. ONEOK’s dividend payout ratio is currently 76.29%.

ONEOK Profile

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.